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Board accepts FY2025 audit: unmodified opinion, $16 million fund balance
Summary
The board received a presentation from auditors (Yo & Yo) who reported an unmodified (clean) opinion and no audit findings for fiscal year ending June 30, 2025. The district's general fund ended the year with a $16,000,000 total fund balance and an unassigned portion of about $11.1 million; the board approved the audit.
The L'Anse Creuse Public Schools Board of Education on Oct. 27 accepted the district's FY2025 audited financial statements after an audit presentation by Yo & Yo.
"Overall audit results: there were no findings in your audit," the auditor told the board, reporting an unmodified opinion and no material weaknesses or significant deficiencies. The auditor said the district was designated a "low risk auditee" for federal programs, reducing the federal-sample testing percentage.
The audit presentation showed a general fund ending total fund balance of $16,000,000 as of June 30, 2025, with an unassigned portion of about $11,100,000. The auditor…
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